Governor’s Pension Freeze for UC Deserves a Frosty Response
Excerpt from calpensions.com 2-21-12 Under the new budget proposed by Gov. Brown, the annual state payment to CalPERS drops from $3.5 billion this year to $3.1 billion in the new fiscal year. The payment falls, at a time most pension costs are rising, because a $404 million payment to CalPERS for California State University pensions is shifted from the state budget to CSU. The change is part of a proposal that could freeze state support for CSU and UC pensions. The nonpartisan Legislative Analyst’s Office said CSU would be faced with a potential burden “out of proportion” to its limited…